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Kroger and Albertsons sell hundreds of stores in a bid to clear merger of the 2 largest US groceries

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Nederland Laatste Nieuws,Nederland Headlines

Grocers Kroger and Albertsons are selling more than 400 stores and other assets to C&S Wholesale Grocers in an approximately $1.9 billion deal as part of their efforts to complete their merger.

Kroger and Albertsons will sell more than 400 stores and other assets for about $1.9 billion, seeking to clear a path for a merger with antitrust regulators reviewing a deal that would unify two of the nation’s largest grocery chains.

All fuel centers and pharmacies associated with the divested stores will remain with the stores and continue to operate.and Albertsons agreed to merge in October. Kroger, based in Cincinnati, Ohio, bid $20 billion for Albertsons. Kroger would also assume $4.7 billion of Albertsons’ debt. The deal is targeted to close early next year.

Before the deal with C&S closes, Kroger may, in connection with securing Federal Trade Commission and other governmental clearance, require C&S to buy up to an additional 237 stores in certain regions. If more stores are added to the agreement, C&S will pay Kroger an additional as-yet-to-be-determined financial amount.

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Nederland Laatste Nieuws, Nederland Headlines

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